In this essay, Arthur Hayes discusses the financial strategy of President Donald Trump, the actions of the Federal Reserve, and the implications for cryptocurrency investors. Hayes criticizes Trump's reliance on debt-fueled expansion and compares him to FDR, arguing that Trump will print money and spend his way out of economic collapse. He also examines the role of Scott Bessent at the Treasury and Jerome Powell at the Federal Reserve, accusing Powell of being a "turncoat traitor." Hayes warns of the high levels of debt in the US and the need to extend loan maturities and lower rates to delay the problem. He emphasizes the importance of liquidity for crypto investors and highlights Powell's ability to manipulate money supply. Hayes believes that if the US economy enters a recession or the Fed fears one, rates will be cut and money will be printed. He also mentions Elon Musk's D.O.G.E. (Department of Government Efficiency) and its potential impact on financial conditions. Hayes speculates on the potential for a "US Strategic Crypto Reserve" and advises crypto investors to buy the dip and wait for the Fed's next move, predicting that the bottom for Bitcoin will be at least $70,000.



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